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Lemon Tree Hotels Ltd.’s Q3 FY21 result was a mixed bag. Net sales were below our estimate, while Ebitda margin was an impressive beat.
Healthy traction from retail segment aided by leisure and staycation continued in Q3 FY21 as well, while business segment recovery was at a slower pace than anticipated.
Net sales declined by 65.7% YoY to Rs 684 million, while Ebitda came in at Rs 201 million, down by 75.3% YoY.
The company reported a net loss of Rs 457 million compared to a net profit of Rs 122 million in Q3 FY20.
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